Billions of dollars in funding that is like fuel to the fire and exacerbates the climate crisis more and more, according to experts
He is about to end up run over, his mother saves himBillions of dollars in funding that is like fuel to the fire and exacerbates the climate crisis more and more, according to experts
The fossil fuel industry benefits from subsidies worth $ 11 million every minute, according to the shock analysis just shared by the International Monetary Fund (IMF). The production and combustion of coal, oil and gas received roughly $ 5,9 trillion in funding in the past year, and no country has set a price for the fuel sufficient to fully cover its environmental costs. experts, only exacerbates the effects of the climate crisis - at a time when it is more necessary than ever to drastically reduce greenhouse gas emissions into the atmosphere.
Set prices for fossil fuels that reflect their true environmental costs it could actually help reduce CO2 emissions by more than a third, according to IMF - and this would represent an important step towards reducing the increase in global temperatures by + 1,5 ° C (as established by the Paris climate agreements): in practice, if the world paid money for the environmental consequences of using fossil fuels, it could reduce their consumption and impact less on the environment. Adherence to common rules in the fossil fuel market, which would make it possible to give a fair price to pollution, is also one of the objectives of COP26; ending subsidies to the fossil industry would also save the deaths of nearly one million people a year as a result of polluted air and increase government earnings.
There would be huge benefits from this price reform, so the stakes are very high, he says Ian Parry, author of the report. - Some countries are reluctant to raise energy prices because they think this could harm the poorest population. Instead, it is precisely keeping fuel prices low that represents an unproductive way of helping the weakest, because most of the benefits still end up in the hands of the richest. It would be better to allocate resources to help poor and vulnerable people directly.
To see 50 nations committed to achieving zero emissions by mid-century and more than 60 fossil fuel price reforms around the world is an encouraging sign, but remember that we are simply scratching the surface and that much more needs to be done. to solve the climate crisis.
@IMF
Consider that already in 2009, the G20 had agreed to abolish subsidies to fossil fuels (the same had done the G7 in 2016, pledging to eliminate them completely by 2025), but very little has been done since then: in July last, a report showed that the G20 countries had funded fossil fuels with trillions of dollars since 2015 (the year of the Paris Accords for carbon neutrality).
The report released by the International Monetary Fund shows that the prices of fossil fuels were, in the past year, about 50% lower than their real environmental costs for 99% of coal, 52% of diesel and 47% of methane gas. Five countries in the world are responsible for two thirds of subsidies: China, the United States, Russia, India and Japan. If we do not act immediately, with targeted regulation, these subsidies could reach the exorbitant figure of 6,4 trillion dollars in 2025. Meanwhile, the G20 countries, alone, release almost 80% of emissions into the atmosphere. total greenhouse gases - that's why more than 600 multinationals (including Ikea, Volvo, Siemens, Unilever), united in the We Mean Business Coalition, have asked the leaders of these countries to eliminate economic support for fossil fuels by 2025 .
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Fonte: IMF
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